While you are appearing for the CA Foundation examination, here are some quick tips on How to Pass CA Foundation Exam in the First Attempt that will add to your confidence and free you from the burden of the examination. If proper care is taken by a candidate while attempting CA Foundation Examination they can come with flying colors in the examination. On the other hand, if due care is not taken for the likely mistakes, success may slip out of your hand. So here are a few Tips and Tricks on How to Pass CA Foundation Exam in the first attempt.
Subject wise Tips to Pass CA Foundation Exam in First Attempt
Accounting is a mark-fetching subject in CA Foundation. In case you have a commerce background, you are already acquainted with the fundamentals of Accounts. Try to solve as many problems as you can, covering all the chapters.
If you have no commerce background, you need to give more time to studying the theory parts and make clear concept of fundamental accounting principles and learn formats applicable to different accounts, such as journals, cash book, trial balance and final accounts of proprietary accounts, partnership account and company account.
This is next to Accounts, with regard to fetching marks in the CA Foundation. You should learn various provisions of the Contract Act, Sale of Goods Act, Negotiable Instrument Act, Partnership Act and Law of Torts. Make a clear concept of the explanation of certain legal terminologies and their implications. You should also understand the implications of some important cases related to various acts.
In the CA Foundation, this is comparatively, an easier subject and the Macro Economics part of it is more mark-fetching if you have made a clear conception in the theory. It is about the study of national economics and of the government policies taken up for affecting the economic performance of a nation.
You will have to make a quick study of various chapters such as business cycles, policy, long-run economic performance, productivity, consumption, saving and investment. Make your own notes on the important aspects of various chapters.
This subject may seem a little difficult to you if you are not very good at math. But, Statistics will be easier than math.
So, while preparing for your CA Foundation, you can concentrate on Statistics by conceptualizing the theory and work out problems from averages, correlation and regression, differentiation and integration and theoretical distribution.
In the examination, you may be required to work out some problems to find out an answer to the question. You may keep this to be attempted at the last and in case you find some very difficult, don’t spend much time on it; otherwise, you may fail to attempt questions that may fetch marks for you. Always look to your watch and assign pre-conceived time for the same.
Tips to Pass CA Foundation Exam in First Attempt (Do’s)
Attempting all Questions
While appearing the CA Foundation, don’t keep in mind that you will attempt the whole 100 marks assigned in the examination paper. Rather keep in mind that you are to score a minimum of 40% in all the subjects and aggregate 200 marks out of 400.
Read fast, the first page for five minutes and then read slowly to comprehend the topic clearly. After completion of a chapter in this way, attempt all the questions given in the book and then check the answers given.
Give tick mark on the correct answers which need not be attempted again. Put cross marks on incorrect answers which need to be revised.
While making the revision, take up those areas where you have answered incorrectly at your first attempt. This process of revision should be repeated till you are fully-versed and correct on a particular chapter or topic.
Practice to solve the past year questions and the probable questions for your ensuing CA Foundation. It is here that you may experience difficulties. In that case, join a reputed coaching institute or take help from friends.
Chalk out a well-planned study schedule and adhere to the timings rigidly. In this regard, you can get better guidance if you join mock tests.
All throughout your preparation as well as in your examination maintain complete positivity without having any fear or apprehension about your success in your CA Foundation Exam.
Tips to Pass CA Foundation Exam in First Attempt (Don’ts)
Light Mental Attitude
Don’t take the CA Foundation examination lightly or casually.
You should always keep your mind in an examination mode and focus all your mental faculties and physical activities on preparation for the examination. The seriousness that you put on the examination will arouse in you, a self-motivation that will take you a long way in achieving your goal. Avoid procrastination at all times.
Lack of Proper Planning
If you are not properly planning for your preparation, you are deliberately ‘planning to fail’ and God too can’t help you. It is carelessness, lack of seriousness and attitude of procrastination that combined together drag you towards your failure.
When you are planning, you take into consideration, your future action, and your organized efforts will make the examination to yield before you. Take your CA Foundation as a war and go prepared to the war field, well-armed and with a well-thought-out strategy.
Over-dependence on Self-Study
Self-study is the basic requirement for passing the CA Foundation examination. But the common mistake students resort to is that because of their over-confidence, they avoid, going in for an external source. As a result, a substantial amount of time and energy is consumed in conceptualizing the subjects and searching out the probable questions. Guidance is key to success.
Indulgence in Distracting Elements
Socialization, social media, running after seniors or exam-mates for advice and guidance, indulgence in watching TV or movies, unwanted talks and discussions are the weeds in your garden of your CA Foundation. Root them out and apply such saved times on your preparation.
In addition to these external weeds, you create some by yourself; in the shape of depression, phobias, apprehension, fear, frustration, and tension. Put a “No Entry” signboard for them. Meditation and Yoga will help you a lot in achieving good results in this respect.
Lack of prioritization
Sometimes, students become negligent in attending their coaching classes which may be due to sheer carelessness or due to giving priority to other unimportant work like social engagement. It may be also due to irrational thought; “let it go, I’ll relax today”. Once given the scope, such negligence may become habitual. So, you must start your serious and full-fledged study right from day one, after you have registered with ICAI for your CA Foundation examination.
So, just as you give importance to the ‘do’ points for success, you should give equal importance to the likely mistakes that you may resort to; either inadvertently or deliberately.
Expert Advice on How to Pass CA Foundation Exam in First Attempt
Prepare a Time-Table
The first step before starting your studies is to prepare a timetable. Those students who think that making time-table is the wastage of time done a blunder mistake. Instead of wasting time every day in thinking about what to study or where to start, make a proper plan. Pick Up the Study Material and allocate time to every subject and every chapter according to the days left in your exam. This will not just organize your studies in a proper manner but also help you to analyze your performance.
Focus on Statistics and Logical Reasoning
Non-Maths commerce students are advised to focus on Statistics and Logical Reasoning because Maths does not seems to be a scoring subject for the Non-Maths students. Logical reasoning covers 20 marks and the remaining part is divided equally among Maths and Statistics. Therefore Non-Maths should focus mainly on Statistics and Logical Reasoning.
Prepare Your Own Revision Notes
The course is very vast and almost impossible to revise in a day so the best source notes to revise at the exam time is your own handwritten notes. So, always prepare your own short notes during your classes which will prove immense helpful at your exam time.
Command Over Calculator
ICAI does not want from its student to do the labor work that why it permits calculator in the CA exams. Papers are always lengthy so it has become very important to grab a command over the calculator. Learn the short keys like M+, M-, G etc. This will save your crucial time in the exam.
Take Short Breaks
If you want to study effectively then do not study continuously for the whole day. Take short breaks of 10-15 minutes every 2-3 hours to refresh your mind. Start your day with the theory subjects because morning time is regarded as the best time to complete your theory subjects and thereafter practical subjects. End your day with the revision of what you have done during the whole day.
Minimum Three Times Revision
The course is vast and needed to get revise at least three times before exams. Plan your revision efficiently i.e. revise each and every topic in your first revision and mark the same type of questions so that your precious time won’t get wasted in solving similar questions again.
At the second revision try to complete a single question for each type and mark questions for your third revision which seems to be tough, important and needed one more revision. At your last and third revision, read the concepts and solve only those questions which you think need one more revision.
Model Test Papers
CA Foundation Model Test papers have proven very helpful in clearing your exam. They taught you the time management and how to analyse the questions accurately. Of course it is most advisable to solve the mock test papers once you have completed the course. But most of the times it has seen that due to the lack of time, students won’t be able to solve the model test papers.
Therefore it is advisable to solve the MTP’s with the end of the chapter and after completion of the course, solve the complete MTP. It’s better to face failure in the MTP rather than Final exams.
Focus on Presentation
With the introduction of the subjective paper pattern, the students will need to focus on the presentation. Don’t take it lightly as this is no more your school exams. In the professional exams and especially the CA Exams presentation matters a lot. Two of the papers in the syllabus are objective while the other two are subjective. Start practicing the questions in writing and tally them either with your mentors or suggested answers.
Revision in the last month
Set a target to complete your course in three months along with first revision and leave the last month for the last two revisions and solving the past attempt and mock test papers.
You can’t waste your time in solving the question in the last month following the exam. Don’t jump over other reference books or another teacher’s notes. Stick to your teachers’ notes and solve the model test papers as much as you can. Follow the last one-month preparation plan to score high in exams.
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